Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (June 15): theedgemarkets.com has highlighted seven stocks with momentum at afternoon market break today. Two of the stock show positive momentum while five show negative momentum.

Stocks with positive momentum are:

Hwang Capital (M) Bhd down two sen or 1.01% at RM1.96.

Top Glove Corp Bhd (fundamental: 2.5; valuation: 1.3) up 13 sen or 2.25% at RM5.91. 

Stocks with negative momentum are:

Oceancash Pacific Bhd (fundamental: 1.0; valuation: 0.8) fell four sen or 9.76% at 37 sen. 

Kimlun Corp Bhd (fundamental: 1.0; valuation: 1.8) gained two sen or 1.54% at RM1.32. 

Fututech Bhd (fundamental: 3.0; valuation: 1.8) lost two sen or 1.19% at RM1.66. 

Spring Gallery Bhd (fundamental: 2.4; valuation: 0.3) gained half sen or 0.74% at 68 sen.

YSP Southeast Asia Holding Bhd (fundamental: 2.5; valuation: 2.0) gained 11 sen or 5.21% at RM2.22.

The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.

This list is not a buy or sell recommendation. It merely tells you which stocks are seeing higher than normal volume and price movements. The share price may move up or down from this point. But the "+ve" (suggesting a rising price trend on volume) and "-ve" (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell.  Note also that momentum generally only persists for a short period of time.

However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks, if they want to ride the momentum. 

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for details on a company’s financial dashboard.)

 

      Print
      Text Size
      Share